Overview
The rise in the number of cases that are being diagnosed with osteoarthritis has risen significantly in the past few years. Market focused reports connected to the healthcare sector among others lately have been offered by Market Research Future which publishes reports on this sector. The market is estimated to achieve a CAGR of 6.8 percent approximately in the forthcoming period.
The market for osteoarthritis has been expanded considerably mainly because of the rise in the level of the elderly population around the world. The market has developed at an incremental pace over the past few years. Genetic predisposition to the disease has also increased the incidence rate of the disease while enlarging the scope for expansion. Increased investment from investors and market players is anticipated to unlock the growth potential of the market
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Segmentation
The global osteoarthritis market has been segmented based on type, diagnosis, treatment, and end users. By type, the osteoarthritis market has been segmented into hip osteoarthritis, wrist osteoarthritis, spinal osteoarthritis, and others.
By diagnosis, the osteoarthritis market has been segmented into imaging, joint fluid analysis, and others. The imaging segment, is sub-segmented into X-rays, magnetic resonance imaging (MRI), and others.
By treatment, the osteoarthritis has been segmented into medication, surgery, therapy, and others. The medication segment has been further segmented into analgesics and non-steroidal anti-inflammatory drugs, and others. The analgesic sub-segment has been further segmented into acetaminophen, duloxetine, and others. The non-steroidal anti-inflammatory drugs sub-segment has been further segmented into aspirin, ibuprofen, naproxen sodium and naproxen, and others.
By end users, the osteoarthritis segment has been hospitals & clinics, medical institutes, research organization, and others.
Industry Segments
The osteoarthritis market globally is segmented on the basis of diagnosis, type, treatment, and end users. The type basis of the market is segmented into wrist osteoarthritis, hip osteoarthritis, spinal osteoarthritis, and others. On the basis of diagnosis, the segmentation comprises of joint fluid analysis, imaging and others. The imaging segment is further sub segmented into magnetic resonance imaging (MRI), X-rays, and others. The treatment based segmentation of the market is segmented into surgery, medication, therapy, and others. The medication segmented is further sub segmented into analgesics and non-steroidal anti-inflammatory drugs and others. The analgesics sub segment on the basis of medication is further segmented into duloxetine, acetaminophen, and others. The non-steroidal anti-inflammatory drugs sub segment, on the basis of medication, is additionally segmented into ibuprofen, aspirin, naproxen sodium and naproxen, and others. Lastly, the end users segment of the market comprises of medical institutes, hospitals & clinics, research organization and others.
Geographical Analysis
The North American region is likely to retain its dominance over the global osteoarthritis market. The presence of a well-developed healthcare sector and the vast patient population suffering from osteoarthritis is a major driving force behind the growth of the regional market. Moreover, the changing lifestyle and increasing healthcare expenditure have boosted the growth of the regional market. The US and Canada are the primary osteoarthritis market in the region and contribute to the regional market growth, largely. The osteoarthritis market in the European region stands second in terms of the size of the market, globally. Government support and the availability of funds for research & development, huge patient population, well-developed healthcare sector, and increasing healthcare expenditures, are some of the significant factors projected to drive the regional market. Western Europe holds a significant share of the regional market, which gets most of the contributions from Germany, France, and the UK. Whereas, Eastern Europe is the fastest-growing region, witnessing considerable opportunities in the untapped market. The Osteoarthritis market in the Asia Pacific region is emerging as a promising market. The presence of a vast patient population and huge opportunities in continuously developing economies like India and China, drive the regional market growth. Furthermore, favorable government policies and increasing healthcare expenditures fuel the growth of the regional market.
Competitive Landscape
The key players in the global osteoarthritis market include Regeneron (U.S.), Novartis AG (Europe), TissueGene Inc. (U.S.), Eli Lilly and Company. (U.S.), Pfizer Inc. (U.S.), Abbott. (U.S.), Ampio Pharmaceuticals Inc. (U.S.), ABIOGEN PHARMA S.p.A (Europe), and Merck Sharp & Dohme Corp. (U.S.).
Industry Updates
In August 2018, the FDA launched new draft guidance for Osteoarthritis Treatments. The new set of rules will guide drug and medical device manufacturers to develop treatments for osteoarthritis.
TABLE OF CONTENT
Chapter 1. Report Prologue
Chapter 2. Market Introduction
2.1 Definition
2.2 Scope of the Study
2.2.1 Research Objective
2.2.2 Assumptions
2.2.3 Limitations
Chapter 3. Research Methodology
3.1 Introduction
3.2 Primary Research
3.3 Secondary research
3.4 Market Size Estimation
Chapter 4. Market Dynamics
4.1 Drivers
4.2 Restrains
4.3 Opportunities
4.4 Challenges
4.5 Macroeconomic Indicators
4.6 Technology Trends & Assessment
Chapter 5. Market Factor Analysis
5.1 Porters Five Forces Analysis
5.1.1 Bargaining Power of Suppliers
5.1.2 Bargaining Power of Buyers
5.1.3 Threat of New Entrants
5.1.4 Threat of Substitutes
5.1.5 Intensity of Rivalry
5.2 Value Chain Analysis
5.3 Investment Feasibility Analysis
5.4 Pricing Analysis
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